If you have been the victim of an accident, a Houston personal injury attorney can help navigate the legal issues while also helping you get access to maximum compensation. The funding for a pre-settlement lawsuit occurs through cash advances of a non-recursive nature. These advances are paid to the victim in advance with a promise from the victim to repay the total amount once the case is won in court. There are significant risks associated with such a non-recourse type of funding, which is why it is all the more important to select a lawyer that you have complete faith and trust in. An experienced, reputable attorney can help you make the best decision when thinking about pre-settlement lawsuit funding.

How Pre-Settlement Lawsuit Funding Works

If you have been offered funding before your case has come to a resolution, it’s important to understand how it works. Your attorney may have relationships with financial institutions that offer such funding. The institution will contact the lawyer and collect the requisite case details. Depending on the information on the case, the financial institution will make an estimate of the overall verdict or settlement value and will provide cash advances to the victim based on this estimate. The applicable fees could be variable or flat, and once the case is won in court by your personal injury attorney, the loan amount along with associated fees is paid to the financial company. It’s important for you to know if you are required to repay the loan if there is a lawsuit loss. The extent of the loan amount provided will vary based on the case’s nature. This is why it is crucial to leverage the services of a qualified attorney who can bring the case to conclusion.

Why Hiring an Attorney Will Help You

Using a Houston personal injury lawyer will ultimately give the insurance company more faith in the case since you have legal representation. The financial institution is much more likely to advance a higher loan amount with a higher success ratio in court.

Pre-Settlement Funding is Tricky

Litigation cases can often to take several years to come to a conclusion. If you decide to take advantage of pre-settlement lawsuit funding, it’s imperative that you understand all the facts. Know what the interest rates are and if they apply to your funds. Know if you are required to pay back the funds if your case results in a loss. Know what strings are attached if you do decide to accept any funds. Don’t let anyone persuade you into taking money unnecessarily. It can be easy to accept this funding especially when times are tough financially or if your accident has left you out of work with medicall expenses stacking up.  In such cases consult your attorney before taking any pre-settlement funds and understand all of the available options to you.

Even before you contact any insurance adjuster, seek professional representation. An experienced attorney can present a strong case with your best interests in mind. Remember, the financial company as well as the defendant party has access to professional lawyers. If you are seeking professional representation, contact me by filling out the “Tell Me About Your Case” form or call me in the office today at (713)861 – 9966.